Serbian Startup Alt Labs Gets Investment Worth Millions in Tokens

Alt Labs is the first team from Serbia which works on decentralized data storage (within the Filmine ecosystem), and only two months from the beginning of the project, they are getting funds worth a million – in dollars and Filecoin (FIL) tokens.

As Vukasin Vukoje, the startup’s founder, explains, in the cryptocurrency world, the practice is to make an ecosystem instead of companies which have exclusive rights to the direction of the development of a product – as is the case in the traditional big tech, where one company, such as Google, for example, has the exclusive right to the direction of the product’s further development.

– Data storage decentralization is the key question of our time. On one hand, it is the only way to put a stop to the monopoly of big technological companies over personal data, whereas, on the other hand, data storage decentralization allows for a much better usage of the infrastructure of datacenters. This increase in the efficiency would have numerous positive effects: for example, free storage of data of public importance and a considerable increase in computer capacities available to programmers – he says.